EdgeProp launches LoanReport, Malaysia’s first loan eligibility tool

KUALA LUMPUR (Feb 24): EdgeProp Malaysia has launched LoanReport, a home loan pre-approval tool, today. LoanReport, a first of its kind, is a tool that assists homebuyers in understanding their borrowing ability better and to assist in getting a pre-approved mortgage loan with banks. 

LoanReport also provides the indicative market price of a property together with a credit report from CCRIS and CTOS. This gives a realistic overview of the user’s eligibility in getting a loan.

The creation of LoanReport stems from the partnership between EdgeProp Malaysia and Finology Sdn Bhd, a Malaysian-based fintech company that specialises in enabling digital underwriting for loan and insurance products. 

With LoanReport, EdgeProp Malaysia managing director Alvin Ong shared that it is aligned with EdgeProp’s focus to empower homebuyers and homeowners to understand the value of their property. 

“At EdgeProp, our focus is to empower home buyers and owners with tools, technology, and support that make them more efficient and profitable. The inclusion of our proprietary home pricing algorithm will provide users with a more accurate view of how much their homes are worth and potentially get a better refinancing deal,” said Ong. 

Robin Ang, chief executive officer of Finology said that the partnership with EdgeProp Malaysia is another milestone for the company as it is Finology’s objective of increasing the relevance of banks and insurers to the people. 

“Finology has long been an enabler of embedded financial product offerings. We’ve made seamless access available on many digital platforms. Our collaboration with EdgeProp adds one more to our track record of helping other businesses expand the scope of their offerings to include financial products, and represents another step forward in our mission to improve access to financial products for Malaysians.” Ang said. 

There are no charges to use LoanReport and users are able to get their pre-approved loan from three different banks.

Get an indicative market price and check your loan eligibility: https://www.edgeprop.my/home-loan-report